SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period: Cost Retail Sales $1,300,000 Purchases $687,400 1,239,800 Beginning inventory 158,600 255,200 What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.)
SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period: Cost Retail Sales $1,300,000 Purchases $687,400 1,239,800 Beginning inventory 158,600 255,200 What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.)
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...
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SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period:
| Cost | Retail | |
| Sales | $1,300,000 | |
| Purchases | $687,400 | 1,239,800 |
| Beginning inventory | 158,600 | 255,200 |
What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.)
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